Corner Mixed-Use
For Sale
$600,000
2501 Carpenter Street, Philadelphia, PA 19146
Three separately metered units combine an updated storefront with two residential apartments in a walkable Philadelphia corridor.
Property Size1,576 SF
Price / SF$380.71
Days on Market316
Property Features for 2501 Carpenter Street
General Information
Standard status
Active
Size
1,576 SF
Property subtype
Multi-Family / Fee Simple
Zoning
CMX1
Additional Details
Corner Location
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,779
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1915
Buildings
1
Listing Agency:
OCF Realty LLC
Listed By:
Mike Goldstein · License #AB068856
(215) 600-1732
Source:
Compass
Added: Oct 23, 2025
Changed: Aug 30
Last Checked: Aug 30 at 9:05PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of OCF Realty LLC
Investment Insights
Based on property information with market context.
This 1,576-square-foot mixed-use building, constructed in 1915, contains three separately metered units: an updated corner commercial storefront and two residential apartments. The one-bedroom apartment has been recently rented, while the renovated two-bedroom residence includes Hazelwood cabinetry, tile flooring, a modern bathroom, and in-unit laundry. The property is zoned CMX1 and includes above-grade and below-grade areas.
The building is located at 2501 Carpenter Street in Philadelphia’s 19146 area, one block from Naval Square and minutes from the South Street Bridge, CHOP, UPenn, and Rittenhouse Square. A 95 Walk Score places the property within a highly walkable setting.
The building is located at 2501 Carpenter Street in Philadelphia’s 19146 area, one block from Naval Square and minutes from the South Street Bridge, CHOP, UPenn, and Rittenhouse Square. A 95 Walk Score places the property within a highly walkable setting.
Key Highlights
- 1,576 SF mixed‑use building at 2501 Carpenter Street
- Three separately metered units: one commercial storefront and two residential apartments
- CMX1 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,790
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$495,800
$495.8K
Cap Rate 7%
$354,143
$354.1K
Cap Rate 9%
$275,444
$275.4K
Market Conditions
NOI Build-Up for 1,576 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$47.8K $30.36/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$45.1K $28.60/SF
− OpEx
−$20.3K −$12.87/SF
NOI
$24.8K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$495,800
Cap Rate 7%
$354,143
Cap Rate 9%
$275,444
Alternative Uses
Best Use
Apartment 5plus
$354.1K
$309.9K – $413.2K
NOI $24,790 @ 7.0% cap · market cap 4.13%
Second Best
Mixed Use
$267.5K
$234.0K – $312.1K
NOI $18,723 @ 7.0% cap · market cap 3.12%
Theoretical Best
Multifamily LT 5
$384.2K
$336.2K – $448.2K
NOI $26,894 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,088
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three separately metered units combine an updated storefront with two residential apartments in a walkable Philadelphia corridor.
Where is this mixed-use property located?
The property is located at 2501 Carpenter Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 1,576 SF mixed‑use building at 2501 Carpenter Street; Three separately metered units: one commercial storefront and two residential apartments; CMX1 zoning
